The report finds that these economies are poorer today on average than on the eve of the COVID-19 pandemic, even as the rest of the world has largely recovered from COVID and resumed its growth trajectory. Released a week before World Bank and International Monetary Fund annual meetings get underway in Washington, the report confirms […]
Household spending, traditionally a strong contributor to Indonesia’s GDP, and election-related spending helped to expand Southeast Asia’s largest economy 5.11 percent in the first quarter of 2024. And it is expected to expand five percent overall this year, followed by 5.1 percent in 2025 and 2026, according to the World Bank’s Indonesia Economic Prospects report. […]
According to the official statement by the World Bank, the first project, worth $400 million, will focus on reducing the impact of climate change in Pakistan, particularly in the agricultural sector. The funds will be used to improve crop yields and protect the sector from the effects of climate change. The second project, worth $135 […]
The project is expected to directly benefit approximately 5 million children, 7,000 head teachers, 165,000 teachers, and more than 3,000 teacher mentors in public schools as well as Punjab Education Foundation schools. Punjab has more than 7 million out-of-school children. GRADES will help the government of Punjab substantially reduce this number and, in parallel, improve […]
The World Bank has approved $1 billion in additional financing for Pakistan’s Dasu Hydropower Stage I (DHP I) Project. This funding aims to expand hydropower electricity supply and improve socio-economic services for local communities. The project is seen as a game changer for Pakistan’s energy sector. A Move Towards Clean Energy The World Bank’s Board […]
Muhammad Aurangzeb, the Finance Minister of Pakistan, attended a significant meeting hosted by the World Bank in Washington DC. The main highlight of this meeting was a report that lays out a roadmap for Pakistan’s economic future. According to this report, Pakistan can potentially transform into a high-middle-income country by the year 2047. The report […]
The World Bank’s Board of Executive Directors approved $600 million on Thursday in financing from the International Development Association (IDA) for the Crisis-Resilient Social Protection Program (CRISP) that will support Pakistan to expand Ehsaas, the national poverty alleviation program, to protect vulnerable households and increase resilience to economic shocks such as the COVID-19 pandemic. Covid […]
A new World Bank-financed fiscal and governance reforms project; Punjab Resource Improvement and Digital Effectiveness (PRIDE) will target to help Punjab. Increase efficiency in its public expenditure. Close its large tax gap; create fiscal space for growth-enhancing expenditure on infrastructure; and human capital by deepening ongoing public financial management reforms. The five-year program also incorporates […]
The World Bank has approved $304 million in financing for Punjab Resource Improvement and Digital Effectiveness Programme (PRIDE). The program is supposed to support efficiencies in public resource management that generate savings and create fiscal space for growth-generating investments in Punjab. It will improve revenue collection by increasing the registration of businesses and real estate […]
